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clock Created with Sketch. 26/05/21
08:23
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Originally posted by ANTON707:
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I truly feel for the shareholders. My first exit point was 0,345 after q3 release and then 0,320. It is not the loss which I made but also the loss of opportunity with capital allocated to wrong gold stock. The positive here personally is the learning which is a value and it is helping me to be more cynical on short term trades vs. long term holding especially with low quality/zombie company. I heard this definition from an interview on a podcast "Master of the markets" with Christopher Joyce on friday while I was running. I took my decision probably after looking at historical of open pit and it was clear to me that open pit was far from consistently hit the 1,3g/t point and then when I saw the 0,32 on monday morning, I said here we go again this is bad again and push the button in no time from the commsec app. I had a look at historical data before with concern, I reckon in Sept. last year, but I was sold by all the capital deployment and money spent in reassessing the resource drilling with 20 mt spacing as oppose to 80 mt. Also the strip ratio 7;1 of the new open pit raised some red flags but I didn't want to listen. I could have made a small profit in JAn and I was tempted to sell however the prospect of the GST discount and 2 good quarters in row convinced me to stay. Big drop in Feb came in, leaky ship with hindsight of poor Q coming, it was an alarm bell, wrote to Company they showed me a nice comparison chart they were outperforming peers and I bought it ! Management change with LJ, one man show, he has probably genuinely tried his best I reckon putting some of his own money at work, however what cannot be changed here is the quality of the resource. Let's see what is the story and hope for the best for LT.
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Anton, I'm going to print your post, laminate it, and bluetack it to my computer screen. I was here via NTM and was sitting on a tidy profit and am absolutely kicking myself that I sat on my hands for too long.
